In a bid to expand globally, Florida-based natural skin-care company Goldfaden MD is taking its premature-aging expertise on the road.
The brand will enter China and Australia later this year. The company had already entered the U.K. in 2014, with more than 65 locations.
“We utilized a performance-driven model and were able to be successful in an external market,” said Lauren Wolk, vice president of sales for Goldfaden MD. The company estimates the addition of China and Australia will boost sales 60 percent over two years, equaling $5 million in additional revenue.
The brand was founded in 2013 by South Florida dermatologist Dr. Gary Goldfaden. One of the brand’s star products, Light Treatment, $80, addresses hyperpigmentation using alpha arubutin, which is derived from berries. Its latest launch, Fleuressence, $125, was released in mid-January and is an antiaging treatment made from baobab, Kalahari, marula, mongongo, and rose hip seed oils.
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According to the Goldfaden MD team, cultural, environmental and market characteristics in China and Australia provide unique opportunities for the brand. In China, negative attitudes toward darker skin lead to an obsession with achieving fair, even skin tone, Goldfaden said. Products from his line are designed to get consumers closer to that goal with natural ingredients. “The overall consensus worldwide, and especially in China, is that most products that are originated in China are adulterated in some way,” Goldfaden said.
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“Not only from the standpoint of having preservative and harsh ingredients, but also the possibility that their testing is not really that good for various types of carcinogens,” he said. “Most high-end, prestige consumers are aware of that and tend to look to the U.S., particularly doctor brands.” The line will launch with Net-a-porter in Hong Kong in May and expand to mainland China in retailer 10/10 Apothecary.
In Australia, the combination of beach culture, intense sun, and the trend toward healthy and holistic living may be a boon for the brand. “When we think of Australia, we think of being on the beach and eating healthy. Dr. Goldfaden MD embodies that lifestyle,” said Lisa Goldfaden, vice president of marketing for Goldfaden MD. “And many Australians have very fair skin. We think our products will be a good fit there because of the sun damage that occurs.” The brand will be retailed exclusively at Mecca Maxima and Mecca Cosmetica. Goldfaden MD estimates that by the end of 2018 international sales will be 50 percent of its revenue.